#USA #Fremont #Employee Recognition #Forma #Rewards System

Forma Introduces Rewards & Recognition

In a game-changing move for the workplace, Forma, the flexible benefits platform, has launched its latest solution, Rewards & Recognition. This innovative offering aims to transform the way organizations appreciate their employees by consolidating various recognition tools into a unified platform that’s easy to manage.

The Importance of Employee Recognition

Employee recognition is more than just a formality; it has a profound impact on productivity and morale. A report by Gallup revealed that low employee engagement resulted in a staggering $438 billion loss in the global economy due to reduced productivity. On the flip side, a Canva study found that a remarkable 84% of employees felt that appreciation boosts their work output. Despite these statistics, many organizations struggle with implementing effective recognition programs, often relying on disjointed systems that hinder engagement.

Forma seeks to address this problem head-on. Their Rewards & Recognition solution is designed to foster a culture of appreciation, providing an intuitive and centralized platform that merges seamlessly with existing employee benefits.

A Unified Approach to Employee Benefits

At the heart of Forma's innovation is the idea that employee recognition shouldn't be an afterthought or an isolated tool requiring separate logins. Forma's CEO and Co-founder, Jason Fan, emphasizes this philosophy, stating that recognition should coexist with the other benefits that employees access regularly. This integration not only simplifies the process for employees but also allows employers to efficiently manage recognition alongside their existing Lifestyle Spending Accounts (LSAs).

Traditional recognition programs often suffer from inefficiency and underutilization. Many require distinct logins and platforms, which can lead to employee disengagement. Forma's model leverages a notional spending account system, ensuring that every dollar spent contributes meaningfully to employee satisfaction. Employers have the flexibility to offer cash rewards, non-cash recognition, or a blend of both, empowering employees to choose how they celebrate their accomplishments.

Success Stories and Impact

The impact of Forma's initiatives is already being felt by companies that have adopted its benefits solutions. Whitney Ayers, the Wellness Program Manager at Garver, shared her enthusiasm for Forma's impact, stating, "Forma has already helped us change lives with our Wellness Program. Our people at Garver are healthier, our processes are faster, and my admin time went down to zero. That kind of impact doesn't come around often." With expectations high for the new Rewards & Recognition platform, many are eager to see how it can further revolutionize employee engagement in the benefits industry.

As Forma continues to expand its reach, boasting over 300 clients and nearly 1 million members across more than 110 countries, the company remains a trusted partner in personalized employee benefits. With an impressive 98% member satisfaction rate and numerous 5-star reviews, Forma is poised to redefine what employee recognition looks like in today’s world.

To dive deeper into what Forma Rewards & Recognition can do for your organization, visit www.joinforma.com/products/rewards-and-recognition. There's a new standard in employee appreciation, and Forma is leading the way.

About Forma

Forma is a cutting-edge flexible benefits platform that enables companies to offer tailored benefits that cater to the unique needs of their employees. By combining Lifestyle Spending Accounts, Pre-tax accounts, and HRAs, Forma simplifies the benefits experience for employers and employees alike. Trusted by prominent organizations globally, Forma is setting the benchmark for the future of employee benefits.